Latest News on UCO Bank
Bank of India, Central Bank, and UCO Bank report significant Q2 profit increases, defying margin compression challenges
Three public sector lenders in India, Uco Bank, Central Bank of India, and Bank of India, have reported significant gains in their net profit after tax for the September quarter. Uco Bank’s net profit increased by 2.8% to ₹620 crore, while Bank of India’s net profit rose by 7.6% to ₹2,555 crore, and Central Bank of India’s net profit surged by 32.8% to ₹1,213 crore. The increase in profit can be attributed to higher interest income and lower provisions.
However, all three banks experienced a drop in net interest margins (NIMs), which is the difference between the interest income generated from assets and the interest paid out on liabilities. Bank of India’s NIMs fell to 2.41% from 2.81%, while Central Bank of India’s NIMs declined to 2.89% from 3.41%, and Uco Bank’s NIMs stood at 2.90% from 3.10%. Despite this, bank officials expect the pressure on NIMs to reduce in the third quarter.
The banks’ net interest income (NII) also saw varying trends. Central Bank of India’s NII grew by 3.7% to ₹3,283 crore, while Uco Bank’s NII increased by 10% to ₹2,533 crore. In contrast, Bank of India’s NII reduced by 1% to ₹5,912 crore. Provisions, which are funds set aside for potential loan losses, also declined for Bank of India and Central Bank of India, but increased for Uco Bank.
In terms of loan and deposit growth, all three banks saw loan growth outpacing deposit growth. Uco Bank’s loans grew by 10.8% to ₹3.05 lakh crore, while deposits grew by 16.5% to ₹2.3 lakh crore. Bank of India’s loans grew by 14% to ₹7.1 lakh crore, while deposits grew by 10% to ₹8.5 lakh crore. Central Bank of India’s loans grew by 16.03% to ₹2.9 lakh crore, while deposits grew by 13.4% to ₹4.5 lakh crore. Overall, the banks’ performance suggests a positive trend, with higher interest income and lower provisions contributing to increased profitability.
DFS Secretary says government is on track to finalize IDBI Bank stake sale by end of fiscal year 2026.
The government of India has announced plans to undertake an Offer for Sale (OFS) in five public sector banks. The banks in question are Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India, and Punjab and Sind Bank. The primary objective of this move is to reduce the government’s stake in these banks to below 75%. This development is in line with the government’s previous disclosures regarding its plans to dilute its ownership in these financial institutions.
The OFS is expected to have a significant impact on the banking sector, as it will lead to increased private participation in these banks. By reducing its stake, the government aims to infuse fresh capital, improve efficiency, and enhance the overall competitiveness of these banks. The move is also seen as a step towards consolidating the banking sector and making it more resilient to external shocks.
Meanwhile, Axis Bank’s managing director and chief executive, Amitabh Chaudhry, expressed his bank’s enthusiasm for lending to entities seeking acquisition finance. He noted that foreign lenders currently dominate this segment, and Axis Bank is keen to capitalize on this opportunity. Chaudhry also highlighted the relatively new field of private credit, which offers immense potential for growth.
The private sector lender’s interest in acquisition finance is a significant development, as it indicates a shift in the bank’s strategy towards catering to the growing needs of corporate clients. With the government’s plans to divest its stake in public sector banks, private lenders like Axis Bank are likely to play a more prominent role in the banking sector. As the Indian economy continues to grow, the demand for acquisition finance is expected to increase, and Axis Bank is well-positioned to tap into this opportunity.
Overall, the government’s plan to undertake an OFS in five public sector banks and Axis Bank’s interest in acquisition finance are positive developments for the Indian banking sector. These moves are expected to lead to increased private participation, improved efficiency, and enhanced competitiveness, ultimately contributing to the growth and stability of the economy.
HDFC Bank Sees 9% Surge in Loans, While Kotak, IDBI, and UCO Banks Deliver Positive Q2 Results in Latest Business Updates
The Indian banking sector has reported strong loan and deposit growth in the July-September 2025 quarter, with both private and public sector lenders showing healthy numbers. HDFC Bank, Kotak Mahindra Bank, IDBI Bank, and UCO Bank all posted double-digit increases in their loan books, reflecting continued momentum in credit demand.
HDFC Bank reported a 9% year-on-year growth in loans, which stood at Rs 27.9 lakh crore as of September 30, 2025. The bank’s total advances under management rose to Rs 28.6 lakh crore, up 8.9% from Rs 26.3 lakh crore a year earlier. Total deposits increased 15.1% to Rs 27.1 lakh crore, compared with Rs 23.5 lakh crore in the year-ago period.
Kotak Mahindra Bank posted a 15.8% rise in advances to Rs 4.62 lakh crore during Q2 FY26, compared with Rs 3.99 lakh crore in the same quarter of the previous fiscal. The bank’s total deposits grew 14.6% to Rs 5.28 lakh crore, up from Rs 4.61 lakh crore a year earlier.
IDBI Bank reported a 15% year-on-year growth in its credit book, with net advances rising to Rs 2.3 lakh crore as of September 30, 2025, compared with Rs 2 lakh crore last year. Total deposits stood at Rs 3.03 lakh crore, up 9% from Rs 2.77 lakh crore a year ago.
UCO Bank reported a 13.29% year-on-year rise in total business to ₹5.37 lakh crore in the September 2025 quarter. Total advances grew 16.67% to Rs 2.31 lakh crore, from Rs 1.98 lakh crore in the same period last year. Deposits increased 10.87% year-on-year to Rs 3.06 lakh crore, compared with Rs 2.76 lakh crore last year.
The latest updates from major lenders indicate that credit demand across retail, corporate, and MSME segments remains strong in FY26 so far. Their Q2 results, including revenue, net profit, and NPAs, will be released this month. The strong growth in both loans and deposits underscores continued traction across various segments, suggesting a positive outlook for the banking sector.
The growth in loans and deposits is a positive sign for the economy, as it indicates that businesses and individuals are taking on more credit, which can lead to increased economic activity. The banks’ ability to grow their loan books and deposits also suggests that they are able to effectively manage their risk and provide credit to those who need it.
Overall, the Q2 business updates from HDFC Bank, Kotak Mahindra Bank, IDBI Bank, and UCO Bank suggest that the banking sector is on a strong footing, with healthy growth in loans and deposits. This is a positive sign for the economy and suggests that the sector will continue to play a crucial role in supporting economic growth.
The performance of these banks is likely to have a positive impact on the overall economy, as they are major players in the financial sector. The growth in loans and deposits is expected to continue, driven by strong credit demand across various segments. The banks’ focus on managing risk and providing credit to those who need it is also expected to continue, which will help to support economic growth.
In conclusion, the Q2 business updates from major lenders suggest that the banking sector is on a strong footing, with healthy growth in loans and deposits. This is a positive sign for the economy and suggests that the sector will continue to play a crucial role in supporting economic growth. The strong growth in loans and deposits is expected to continue, driven by strong credit demand across various segments.
Stock Market Updates of UCO Bank
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UCO Bank Official Under Fire for Allegedly Telling Employee ‘Everyone’s Mother Dies, Don’t Be Dramatic’ in Viral Email, Sparking Outrage Over Toxic Behavior
A viral internal email has exposed the allegedly toxic and dictatorial workplace culture fostered by RS Ajith, the Chennai Zonal Head of UCO Bank. The email details multiple instances of insensitivity and abusive behavior, including denying leave to employees during critical family emergencies. One employee was allegedly told “Everyone’s mother dies, don’t be dramatic” when they requested leave after their mother’s death. Another was pressured to work despite having a hospitalized one-year-old daughter, with the threat of leave without pay if they didn’t comply.
The email also recounts an incident where a branch officer’s wife suffered a life-threatening condition, and Ajith allegedly reacted with derogatory comments and refused leave. These instances have sparked widespread condemnation on social media, with many calling for regulatory scrutiny from the Reserve Bank of India and the Ministry of Finance. The incident has been branded as “institutional cruelty” and “emotional harassment” camouflaged as discipline.
Despite the outrage, UCO Bank and its Chennai zonal office have not issued a formal response. The incident has reignited conversations about employee welfare, managerial accountability, and the need to reform workplace cultures in public sector banks and beyond. The Logical Indian has asserted that leadership demands not only discipline but also empathy and respect for personal dignity, especially in moments of grief or crisis.
The controversy has prompted calls for banks and institutions to reevaluate their human resource policies and prioritize kindness alongside efficiency. The alleged behavior of RS Ajith has been widely criticized, with many questioning how a zonal head can treat employees with such disrespect and insensitivity. The incident has sparked a wider discussion about the importance of creating a compassionate work environment where employees feel valued beyond their productivity.
As the incident continues to unfold, it remains to be seen how UCO Bank and regulatory authorities will respond to the allegations. The public outcry and demands for action have highlighted the need for greater accountability and transparency in workplace cultures, particularly in public sector institutions. The incident serves as a reminder that leadership must balance discipline with empathy and respect for human dignity, and that institutions must prioritize kindness and compassion alongside efficiency and productivity.
UCO Bank’s Q4 net profit surges 24% year-over-year, reaching Rs 665.7 crore.
UCO Bank has reported a significant improvement in its financial performance for the fourth quarter of the fiscal year 2022-23. The bank’s net profit has surged by 24% year-over-year (YoY) to Rs 665.7 crore, marking a substantial increase from the same period last year. This impressive growth can be attributed to the bank’s efforts to improve its asset quality, reduce non-performing assets (NPAs), and enhance its operational efficiency.
The bank’s total income for the quarter stood at Rs 6,442.6 crore, up 12.6% YoY from Rs 5,722.3 crore in the corresponding quarter last year. The net interest income (NII) also witnessed a growth of 23.4% YoY to Rs 2,444.9 crore, driven by an expansion in the net interest margin (NIM) to 2.42% from 2.13% in the year-ago quarter.
UCO Bank’s provisions and contingencies for the quarter declined by 24.5% YoY to Rs 845.1 crore, primarily due to a reduction in provisioning requirements for NPAs. The bank’s NPA ratio has also improved significantly, with the gross NPA ratio declining to 3.65% from 4.89% in the same quarter last year. The net NPA ratio also came down to 1.32% from 2.05% YoY.
The bank’s capital adequacy ratio (CAR) stood at 13.74% as of March 31, 2023, above the regulatory requirement of 10.875%. The return on assets (ROA) improved to 0.66% from 0.54% in the year-ago quarter, while the return on equity (ROE) increased to 11.64% from 9.13% YoY.
In terms of business growth, UCO Bank reported a 10.1% YoY increase in advances to Rs 1,39,936 crore, while deposits grew by 7.2% YoY to Rs 2,33,357 crore. The bank’s CASA (current account, savings account) deposits rose by 12.2% YoY to Rs 83,120 crore, with the CASA ratio improving to 35.71% from 33.42% YoY.
Overall, UCO Bank’s Q4 performance is a reflection of the bank’s efforts to transform its business and improve its financial health. The bank’s focus on reducing NPAs, improving asset quality, and enhancing operational efficiency has yielded positive results, positioning it for sustainable growth in the long term. With a strong capital base, improving profitability, and a growing business, UCO Bank is well-placed to capitalize on emerging opportunities and drive growth in the banking sector.
IBPS PO Prelims Result 2025 Expected to Release Shortly on ibps.in; Get Vacancy Details and Latest Updates Here
The Institute of Banking and Personnel Selection (IBPS) is anticipated to announce the results of the Probationary Officer (PO) preliminary exam for 2025 soon. Candidates who took the exam can check their results on the official IBPS website, ibps.in, by logging in with their registration number and date of birth. The IBPS PO recruitment for 2025 aims to fill 5,208 vacancies for the roles of Probationary Officer/Management Trainee across several major Indian banks.
To check their results, candidates can follow these steps: visit the official IBPS website, click on the link for the IBPS PO Prelims Result 2025, enter their login details, and submit. Their result will then be displayed on the screen, and they can download their scorecard and print a copy for their records.
The preliminary PO exams were conducted on August 17, 23, and 24, 2025. Candidates who pass this initial test will be eligible to sit for the Mains exam, which is scheduled for October 12, 2025. The bank-wise vacancy breakdown is not fully available, as some banks, including Indian Bank, UCO Bank, and Union Bank of India, have not reported their vacancy numbers.
The IBPS PO recruitment is a significant opportunity for candidates to join major Indian banks as Probationary Officers/Management Trainees. With 5,208 vacancies available, this recruitment drive is highly competitive, and candidates who have passed the preliminary exam will need to perform well in the Mains exam to secure a position.
It is essential for candidates to keep an eye on the official IBPS website for updates on the result announcement and to follow the instructions carefully to check their results. By doing so, they can determine their qualifying status and proceed to the next stage of the recruitment process if they are successful. The IBPS PO recruitment for 2025 is a crucial step for candidates seeking a career in the banking sector, and the announcement of the preliminary exam results is a significant milestone in this process.
Karnal Farmers Stage Protest Outside UCO Bank Branch Amid Ongoing Loan Dispute
Members of the Bharatiya Kisan Union (BKU) in Karnal, Haryana, staged a protest against UCO Bank on Thursday, alleging that the bank is exploiting farmers through exorbitant loan recovery demands. The protest was sparked by the case of a farmer from Kohand village, who despite repaying more than double the principal loan amount, is still being treated as indebted and is facing threats of having his six-acre farmland seized. The farmer, Madan Pal Rawal, had inherited a loan of approximately ₹1.47 crore from his father, which he had been repaying until the COVID-19 pandemic devastated his poultry farm and left him unable to maintain regular repayments.
The bank has now raised its demand to an inflated ₹5.80 crore, far exceeding the original borrowing. The BKU has criticized the government’s double standards, pointing out that while it writes off debts owed to private moneylenders, it authorizes banks to auction off the homes and farmlands of struggling farmers. The union has announced that a 12-member delegation will meet with the Deputy Commissioner on September 16 to seek an immediate resolution to the issue.
The protest saw wide participation from BKU leaders and members, who marched through the city, carrying an effigy of the bank and raising slogans. The effigy was eventually set ablaze, symbolizing the farmers’ anger and frustration with the bank’s actions. The BKU has warned that it will intensify its agitation if necessary to prevent the auction of Madan Pal’s land.
The dispute highlights the growing tension between rural borrowers and financial institutions, particularly in the wake of the pandemic, which has left many farmers struggling with unsustainable debts. The BKU is demanding that the government take action to protect farmers from exploitation by banks and other financial institutions. The meeting with the Deputy Commissioner on September 16 is expected to be a crucial step in resolving the issue and preventing further escalation of the protest.
The farmers are arguing that the bank’s demands are unfair and that they are being forced to pay an inflated amount due to the bank’s own mistakes. They are also demanding that the government provide relief to farmers who are struggling to repay their loans due to the pandemic. The protest has brought attention to the plight of farmers in Haryana and the need for the government to take action to protect their rights and interests.
Authorities launch search operation at properties of entrepreneur and bank appraiser implicated in Rs 2.63 crore gold loan scam
The Enforcement Directorate (ED) has conducted search and seizure operations at multiple premises in Goa in connection with a Rs 2.63 crore loan fraud involving UCO Bank. The fraud allegedly involved sanctioning loans against fake gold ornaments, resulting in a significant loss to the bank. The ED’s investigation, initiated under the Prevention of Money Laundering Act (PMLA), 2002, revealed that businessman Gundu Kelvekar and bank valuer Hemant Raikar were involved in a criminal conspiracy to obtain multiple gold loans from UCO Bank branches in Goa.
The loans were acquired by pledging fake gold ornaments, which Raikar, as an empanelled gold valuer, knowingly certified as genuine. The ED investigation found that between 2019 and 2023, Kelvekar and his wife Mayuri systematically obtained these loans in their names and in the names of their associates. The loan amounts were then transferred to Kelvekar’s savings bank account, with a significant portion being withdrawn in cash. Kelvekar withdrew Rs 79.65 lakh, while his wife withdrew Rs 48.75 lakh.
The ED also found that part of the funds was layered through transfers to various entities, including bullion dealers, to project the proceeds of crime as untainted. During the search operations, assorted yellow metal ornaments weighing 4.5 kg were found at Kelvekar’s residence, which were confirmed to be not gold but white metal with yellow plating by an authorized valuer.
The PMLA investigations revealed that the gold loans procured in a fraudulent manner were not only from UCO Bank but also from other public sector banks and even from cooperative banks. As a result, the proceeds of crime, currently estimated at Rs 2.63 crore, are expected to increase significantly. The ED’s investigation is ongoing, and further actions are being taken to unravel the money trail and bring the perpetrators to justice. The case highlights the need for increased vigilance and scrutiny in the banking sector to prevent such fraudulent activities.
UCO Bank, Karur Vysya Bank, Yes Bank, and Equitas SFB have revised their fixed deposit interest rates, offering up to 7.90% for senior citizens, as reported by Outlook Money.
Several banks in India have revised their fixed deposit (FD) rates, offering higher returns to customers, especially senior citizens. UCO Bank, Karur Vysya Bank, Yes Bank, and Equitas Small Finance Bank (SFB) are among the lenders that have increased their FD rates.
UCO Bank has revised its FD rates for amounts below ₹2 crore, effective from August 10, 2023. The bank now offers an interest rate of 3.00% to 5.50% per annum for the general public, depending on the tenure of the deposit. Senior citizens, however, can earn up to 5.90% per annum, with an additional 0.50% interest rate for deposits with a tenure of 5 years and above.
Karur Vysya Bank has also increased its FD rates, with effect from August 16, 2023. The bank offers an interest rate of 3.00% to 6.00% per annum for the general public, depending on the tenure of the deposit. Senior citizens can earn up to 6.50% per annum, with an additional 0.50% interest rate for deposits with a tenure of 5 years and above.
Yes Bank has revised its FD rates, offering an interest rate of 3.25% to 6.25% per annum for the general public, depending on the tenure of the deposit. Senior citizens can earn up to 7.00% per annum, with an additional 0.75% interest rate for deposits with a tenure of 5 years and above.
Equitas SFB has also increased its FD rates, offering an interest rate of 4.00% to 7.15% per annum for the general public, depending on the tenure of the deposit. Senior citizens can earn up to 7.90% per annum, with an additional 0.75% interest rate for deposits with a tenure of 5 years and above.
The revised FD rates are as follows:
– UCO Bank: 3.00% to 5.50% per annum (general public), up to 5.90% per annum (senior citizens)
– Karur Vysya Bank: 3.00% to 6.00% per annum (general public), up to 6.50% per annum (senior citizens)
– Yes Bank: 3.25% to 6.25% per annum (general public), up to 7.00% per annum (senior citizens)
– Equitas SFB: 4.00% to 7.15% per annum (general public), up to 7.90% per annum (senior citizens)
The increase in FD rates is expected to attract more customers to these banks, especially senior citizens who are looking for higher returns on their deposits. However, it’s worth noting that the FD rates are subject to change and may not be applicable to all types of deposits or customers.
Mumbai Court Rejects Plea to Clear Topworth Director’s Name in UCO Bank Scam Case
A special Central Bureau of Investigation (CBI) court in Mumbai has refused to discharge Abhay Lodha, the director of Topworth Steels and Power Pvt Ltd, from a cheating and criminal conspiracy case. The case involves allegations of causing losses worth ₹74 crore to UCO Bank. The First Information Report (FIR) was registered against M/s Akshata Mercantile Private Ltd (AMPL) and unknown UCO Bank officials after the company submitted four bills worth ₹74 crore under Letter of Credit (LC), which were diverted to Topworth Steels.
The CBI alleged that UCO Bank had discounted bills worth ₹74.82 crore, which were diverted by AMPL to the Topworth Group of Companies. One of the receiving companies refused to accept these bills, stating that the documents were not as per the LC, resulting in unpaid bills and a loss of ₹74.82 crore to UCO Bank. The prosecution claimed that the request letters were prepared at the behest of Lodha.
Lodha’s defense team argued that he was falsely implicated in the case, as he is neither the director nor engaged in the day-to-day affairs of AMPL. They also claimed that merely being the guarantor to the LC does not implicate him in the conspiracy and that there was no evidence to show that funds were being diverted.
However, the court observed that even if Lodha is not the director of AMPL, the investigating officer had collected material to show that AMPL was a company of the Topworth group, of which Lodha was the chairman. The court stated that Lodha has direct control over the business affairs of AMPL and that the investigation revealed that he was the prime accused, without whose indulgence the crime could not have been committed.
The court further said that the material placed on record shows that there was criminal intent behind certain acts of Lodha with regard to the bank. Therefore, the court refused to discharge Lodha from the case, allowing the trial to proceed. The order was passed on June 12, and the case will continue to be heard in the special CBI court.
SBI Axes Rs 1 Crore Air Accident Insurance for Select Customers from July Onwards
SBI Card has announced significant changes to its credit card policies, effective July 15, 2025, which will impact both premium and co-branded credit card users. One of the major changes is the discontinuation of complimentary air accident insurance on several cards. This means that cardholders will no longer receive automatic air accident insurance, a previously valuable feature for frequent flyers. The affected cards include SBI Card Elite, SBI Card Miles Elite, and Miles Prime, which will lose their Rs 1 crore coverage, as well as SBI Card Prime and Pulse, which will lose their Rs 50 lakh coverage.
In addition to the removal of air accident insurance, SBI Card will also update its minimum payment calculation formula. Starting July 15, the Minimum Amount Due (MAD) will be calculated as 100% of GST, EMI amounts, fees and charges, finance charges, and any over-limit amounts, plus 2% of the remaining outstanding balance. This change is likely to increase the minimum payable amount, especially for those with high EMIs or charges.
Another significant change is the revised order of payment settlement. From July 15, SBI will adjust payments in the following order: GST, EMIs, fees/charges, finance charges, balance transfers, retail purchases, and cash advances. This change will impact how interest is charged and how quickly cardholders can reduce their costliest debts.
Co-branded cards will also be affected by these changes. From August 11, 2025, cards with Rs 1 crore coverage, such as the UCO Bank SBI Card ELITE and Central Bank of India SBI Card ELITE, will lose their air accident insurance benefit. Cards with Rs 50 lakh coverage, including PRIME variants from South Indian Bank, Karnataka Bank, and Allahabad Bank, will also be affected.
Cardholders are advised to review their statements carefully and adjust their financial plans accordingly. The loss of insurance coverage and changes in payment processing could have significant implications for how much users pay and what protections they receive. It is essential for cardholders to understand these changes and plan their finances accordingly to avoid any unexpected charges or losses. Overall, these changes will require cardholders to be more mindful of their credit card usage and payment habits to minimize their costs and maximize their benefits.
RBI’s rate cut leads to drop in home loan rates, bringing greater relief to existing borrowers
Following the Reserve Bank of India’s (RBI) decision to cut the repo rate by 50 basis points, several major public sector banks have reduced their lending rates. The move aims to stimulate credit growth and support economic activity amid ongoing challenges. Bank of Baroda, Punjab National Bank, Bank of India, and UCO Bank have all reduced their repo-linked lending rates (RLLR) by 50 basis points, with effective dates ranging from June 6 to June 9, 2025. These reductions bring their RLLR rates down to between 8.15% and 8.35%.
In addition to the public sector banks, private sector lender HDFC Bank has also reduced its Marginal Cost of Funds based Lending Rate (MCLR) by 10 basis points across various tenures, effective June 7, 2025. This adjustment brings down the overnight and one-month MCLR rates to 8.9%. The RBI’s repo rate cut directly impacts floating-rate loans, which must be reset in line with the benchmark repo rate as per RBI regulations. Existing borrowers with floating-rate loans will automatically benefit from lower interest rates.
However, new borrowers may not receive the full benefit of the rate cut, as banks are expected to modify the spreads they charge over the repo rate to maintain profitability. For example, Bank of Baroda’s home loan rates for new borrowers now start at 8%, which is higher than the rates offered by some public sector banks prior to the RBI rate cut. Several public sector banks, including Bank of India, Bank of Maharashtra, and Union Bank of India, were offering home loans at rates as low as 7.85% for loans up to Rs 30 lakh.
The rate cuts are expected to make borrowing cheaper for consumers and businesses, which could help stimulate economic growth. However, to preserve profitability, lenders are also expected to reduce returns on fixed deposits (FDs), making them less attractive to savers in the near term. The RBI’s repo rate reduction and the subsequent adjustments by banks reflect ongoing efforts to balance credit availability, profitability, and competitive pressures in the Indian banking sector.
Overall, the rate cuts are a positive development for borrowers, but may have a negative impact on savers. The Indian banking sector is expected to continue to evolve in response to the RBI’s monetary policy decisions, with lenders adjusting their rates and products to maintain profitability and competitiveness. The ultimate goal of the rate cuts is to spur economic growth by making borrowing cheaper, which could have a positive impact on the broader economy.
UCO Bank Slashes Lending Rates: MCLR Reduced Across All Loan Tenures, Effective June 10, Making Borrowing More Affordable
UCO Bank, a major public sector bank in India, has announced a 0.10% reduction in its Marginal Cost of Funds-Based Lending Rate (MCLR) across all tenures, effective June 10, 2025. This move follows the Reserve Bank of India’s (RBI) decision to cut the repo rate by 50 basis points, bringing the total reduction to 75 basis points since the RBI’s previous three consecutive cuts. As a result, the repo rate has decreased from 6% to 5.50%. This reduction in MCLR by UCO Bank is expected to make various types of loans, such as home loans, car loans, and personal loans, more affordable for customers.
The MCLR rates for different periods have been reduced as follows: overnight MCLR has decreased from 8.25% to 8.15%, one-month MCLR has decreased from 8.45% to 8.35%, three-month MCLR has decreased from 8.60% to 8.50%, six-month MCLR has decreased from 8.90% to 8.80%, and one-year MCLR has decreased from 9.10% to 9.00%. The one-year MCLR is particularly significant, as most retail loans, including home loans, are linked to this rate.
MCLR, or Marginal Cost of Funds-Based Lending Rate, is the minimum rate below which a bank is not allowed to lend. It was introduced by the RBI on April 1, 2016, to bring transparency to lending rates and ensure that the benefits of policy rate changes are passed on to customers quickly. MCLR is based on a bank’s internal costs, including the cost of funds, cash reserve ratio, operating costs, and tenor premium. When the RBI cuts the repo rate, it becomes cheaper for banks to raise funds, allowing them to reduce their MCLR rates and pass on the benefits to customers.
The reduction in MCLR by UCO Bank is expected to have a ripple effect on the entire banking sector, with other public and private sector banks likely to follow suit and announce similar cuts in their MCLR rates. This, in turn, will make loans cheaper across the country and boost the economy. The continuous reduction in repo rate by the RBI is expected to have a positive impact on the economy, making borrowing more affordable for individuals and businesses. Overall, the reduction in MCLR by UCO Bank is a welcome move for customers, and it is expected to have a positive impact on the banking sector and the economy as a whole.
Major lenders, including Bank of Baroda, UCO Bank, Punjab National Bank, and Bank of India, have slashed their lending rates.
UCO Bank has announced a reduction in its marginal cost of fund-based lending rate (MCLR) by 10 basis points across all tenures, following the Reserve Bank of India’s (RBI) decision to cut the repo rate. The reduced MCLR rates will come into effect from June 10. The MCLR is a crucial benchmark rate that determines the interest rates for loans such as home loans, personal loans, and some business loans.
As per the revised rates, the overnight MCLR has been decreased from 8.25% to 8.15%, while the one-month MCLR has been lowered from 8.45% to 8.35%. The three-month MCLR has seen a cut from 8.6% to 8.5%, and the six-month MCLR from 8.9% to 8.8%. The one-year MCLR has been reduced from 9.1% to 9%. These reductions in MCLR rates are expected to make loans linked to this benchmark cheaper for customers.
In addition to the MCLR revisions, UCO Bank has also reduced its treasury bill-linked rates. Effective from June 9, the rates for three months, six months, and 12 months have been lowered to a uniform 5.8%, down from the previous rates of 6% or 6.05%. These changes are aimed at providing relief to borrowers and stimulating economic growth.
The reduction in MCLR rates by UCO Bank is a positive development for customers who have taken loans linked to this benchmark. With the decreased interest rates, borrowers can expect to save on their loan repayments. The move is also expected to boost credit growth and support the overall economy. The RBI’s decision to cut the repo rate has prompted several banks to review their lending rates, and UCO Bank’s reduction in MCLR rates is a step in this direction. Overall, the revisions in MCLR rates and treasury bill-linked rates are likely to benefit borrowers and contribute to the country’s economic growth.
A crucial announcement from the RBI on fixed deposits is imminent, and its impact will be felt by the general public across the board.
The Reserve Bank of India (RBI) has reduced the repo rate twice this year, resulting in a decrease in interest rates on Fixed Deposits (FDs) offered by most banks, especially public sector banks. With inflation showing signs of easing, experts predict that the RBI may cut rates again in June. This makes it a good time to invest in FDs, as once you book an FD, the interest rate is locked in for the entire term, even if market rates fall later.
Currently, top public sector banks are offering attractive interest rates on 1-2 year FDs, ranging from 7.05% to 7.30% for regular customers. Senior citizens can earn even higher returns, up to 7.75% for 1-2 year tenures. Banks such as Bank of Maharashtra, Punjab & Sind Bank, and UCO Bank are offering these higher rates for senior citizens.
Before investing in an FD, it’s essential to keep a few things in mind. Firstly, choose the FD tenure wisely, as locking in current high rates for longer is better. Secondly, check the bank’s rating, as public sector banks are generally safer. Thirdly, explore senior citizen schemes, which offer higher interest rates. Finally, enable auto-renewal to ensure that your money doesn’t lie idle after maturity.
If the RBI cuts rates again in June, today’s FD rates may soon be history. Therefore, if you want stable and guaranteed returns, now is the right time to lock in your investment. With the current interest rates and the possibility of further rate cuts, investing in an FD before June could be a smart move. It’s essential to take advantage of the current rates before they drop, as they may not be available in the future.
Overall, investing in an FD is a low-risk investment option that provides guaranteed returns. With the current interest rates and the potential for further rate cuts, it’s crucial to make an informed decision and invest wisely. By considering the factors mentioned above and taking advantage of the current rates, you can make the most of your investment and earn attractive returns on your FD.
Over 40 companies, including IRFC, Adani Green, UCO Bank, and Castrol India, are set to announce their earnings on April 28
On Monday, a multitude of companies across various sectors are slated to announce their fourth-quarter (Q4) results, marking a critical juncture for investors, analysts, and the broader market. The list of companies declaring Q4 results includes Indian Railway Finance Corporation Ltd., which operates in the financial sector, particularly focusing on funding for Indian Railways’ expansion and modernization plans. KFin Technologies Ltd., a leading provider of financial services and solutions, will also release its Q4 results, offering insights into the performance of the financial technology sector.
KPIT Technologies Ltd., a company specializing in IT consulting and services, is another key player set to unveil its Q4 performance. This announcement is crucial for understanding the growth trajectory of the IT sector, especially in the context of global digital transformation trends. Nippon Life India Asset Management Ltd., known for its investment and asset management services, will also disclose its Q4 results, reflecting the health of the asset management industry.
The real estate sector will have its moment of reckoning with Oberoi Realty Ltd. announcing its Q4 results. This is significant given the real estate market’s recovery and growth potential. On the industrial front, companies like Nitco Ltd., Plastiblends India Ltd., and Sanghi Industries Ltd. will provide insights into their respective sectors’ performances. Financial institutions such as PNB Housing Finance Ltd. and UCO Bank are also slated to declare their results, which will be closely watched for indicators of the banking and housing finance sectors’ stability and growth.
Other notable companies across various sectors include RPG Life Sciences Ltd. in the pharmaceuticals domain, Shree Digvijay Cement Company Ltd., and UltraTech Cement Ltd. in the cement industry, and TVS Motor Company Ltd. in the automotive sector. These announcements are pivotal as they span across sectors that are crucial for the overall economic health of the country. The results from these companies will offer a broad picture of how different sectors of the Indian economy have performed in the fourth quarter and the fiscal year 2025, providing valuable insights for stakeholders, investors, and policymakers alike. The collective performance of these companies will have implications for market sentiments, future investments, and overall economic forecasting.
A boost to the masses, four major government-backed banks slash interest rates, bringing welcome respite to the common folk.
The Reserve Bank of India (RBI) has cut interest rates for the second consecutive time, and as a result, four government banks have reduced their interest rates. The affected banks include Punjab National Bank, Bank of India, Indian Bank, and UCO Bank. This decision will benefit both existing and new borrowers, providing relief to the common man.
Bank of India has reduced its repo-linked benchmark lending rate (RBLR) from 9.10% to 8.85%, effective from April 9. Indian Bank has cut its RBLR by 35 basis points to 8.70%, effective from April 11. Punjab National Bank has revised its RBLR from 9.10% to 8.85%, effective from April 10. UCO Bank has reduced its lending rate to 8.8%, effective from April 10.
The RBI’s decision has a direct impact on interest rates for all types of loans, including home loans, car loans, and personal loans. The central bank has changed its monetary policy stance from “neutral” to “accommodative”, indicating that it may continue to maintain a soft stance in the coming times. This decision is expected to provide relief to the common man, making it easier for them to borrow money.
The RBI has also lowered its GDP growth forecast for FY26 by 20 basis points to 6.5%. The growth forecast for the first quarter of FY26 is 6.5%, 6.7% for the second quarter, 6.6% for the third quarter, and 6.3% for the fourth quarter.
This reduction in interest rates is a positive development for the economy, as it will make borrowing cheaper and stimulate economic growth. The four government banks that have reduced their interest rates are expected to pass on these benefits to their customers, making it easier for them to borrow money and invest in the economy. Overall, this decision is expected to have a positive impact on the economy, providing relief to borrowers and stimulating economic growth.
Bank of Baroda responds to RBI rate cut by slashing lending rates for retail borrowers, a boon for individuals seeking loans
The Bank of Baroda (BoB) has announced that it will pass on the benefits of the recent RBI rate cut to its customers immediately. Following the RBI’s decision to reduce the repo rate by 25 basis points, several public sector banks, including Punjab National Bank, Bank of India, Indian Bank, and UCO Bank, have already cut their lending rates by up to 35 basis points. BoB has now also reduced its external benchmark-linked lending rates for retail and MSME customers.
The new rates will be effective immediately, and existing customers will also benefit from the rate cut. The bank’s Overnight Marginal Cost of Funds-Based Lending Rate (MCLR) stands at 8.15%, and its one-year MCLR is 9%. This puts BoB among the most competitive banks in the industry.
The rate cut by the Reserve Bank of India was the second consecutive reduction, following the 25 basis point cut in February. Loan borrowers from other banks are now hoping that their loan interest rates will also come down, totaling a 50 bps reduction.
According to the bank, this move reaffirms its commitment to providing credit at affordable rates and supporting economic growth and financial inclusion. The rate cut is expected to benefit individuals and businesses, especially those belonging to the retail and MSME segments. However, it is not clear whether other banks will follow suit, but the move by BoB is a positive development for Consumers.
Four PSU banks slash loans rates in tandem with RBI’s rate decision, with others expected to follow suit.
In response to the Reserve Bank of India’s (RBI) decision to reduce its short-term lending rate (repo rate) on Wednesday, four public sector banks have announced a reduction in their lending rates. Punjab National Bank (PNB), Bank of India, Indian Bank, and UCO Bank have all reduced their repo-linked benchmark lending rates (RBLR) by up to 35 basis points.
According to regulatory filings, Indian Bank’s RBLR will be lowered to 8.70 per cent effective April 11, while PNB’s RBLR will be reduced to 8.85 per cent effective April 10. Bank of India’s new RBLR stands at 8.85 per cent, effective from Wednesday. UCO Bank has brought down its repo-linked rate to 8.8 per cent, effective Thursday.
These rate reductions are expected to benefit both existing and new borrowers, as they will pay lower interest rates on their loans. Other banks are also likely to follow suit and announce similar rate reductions in the coming days.
The RBI’s decision to reduce the repo rate was seen as a move to boost economic growth, and the reduction in lending rates by these public sector banks is expected to have a positive impact on the overall economy. With borrowers paying lower interest rates on their loans, they will have more disposable income and may be more likely to make big-ticket purchases or invest in other financial assets, which can help stimulate economic growth.
Overall, the reduction in lending rates by these public sector banks is a positive development for borrowers and the economy as a whole. It is a step towards making credit more affordable and accessible, which can help drive economic growth and development.
Supreme Court Dismisses UCO Bank’s Plea in Pension Case, Ruling Employee Fired for Misconduct Isn’t Entitled to Benefit
The Supreme Court of India has rejected UCO Bank’s plea that an employee who was dismissed for misconduct was not entitled to pension. The court held that the bank’s decision to dismiss the employee was not valid as it was based on an incomplete inquiry and did not follow the proper procedures.
The employee, who was a manager at the bank, was dismissed in 2013 after allegations of misconduct were made against him. The bank conducted an inquiry and found him guilty of the charges, leading to his dismissal. However, the employee challenged the decision in court, arguing that the inquiry was incomplete and did not follow the proper procedures.
The Supreme Court agreed with the employee’s argument, stating that the inquiry was not conducted in accordance with the bank’s rules and regulations. The court found that the inquiry report was based on incomplete and unreliable evidence, and that the bank’s decision to dismiss the employee was not supported by sufficient evidence.
As a result, the Supreme Court ruled that the employee was entitled to his job and benefits, including pension. The court ordered the bank to reinstate the employee with full back wages and benefits, including pension.
This ruling is significant because it sets a precedent for employees who are dismissed without a fair inquiry and proper procedures. It highlights the importance of following proper procedures and ensuring that inquiries are conducted in a fair and transparent manner.
In conclusion, the Supreme Court’s decision in this case reinforces the importance of fair and transparent decision-making processes in the workplace. It also underscores the need for employers to follow their own rules and regulations, and to ensure that employees are treated fairly and justly.
The business expands by 14% while its loan book grows at a rate of 20%.
UCO Bank, a public sector bank in India, has reported a strong business growth of 14% year-on-year for the January-March period of financial year 2025. The bank’s total business, comprising deposits and loans, stood at Rs 5.13 lakh crore, a significant increase from Rs 4.5 lakh crore in the same period last year. The growth was driven by a 20.37% expansion in domestic loans, which stood at Rs 1.95 lakh crore. On a sequential basis, domestic advances grew by 6.56%. The total advances increased by 17.65% to Rs 2.2 lakh crore.
Deposits also saw a notable increase, growing by 11.41% to Rs 2.93 lakh crore. While the deposit growth was lower than the loan growth, it was still a significant improvement. The current-account savings-account (CASA) ratio, a key indicator of a bank’s financial health and profitability, stood at 37.9% as of March 2025. This is slightly lower than the 39.25% recorded in March 2024 and the 37.97% in December 2024.
Overall, UCO Bank’s performance indicates a healthy business growth, driven primarily by expansion in domestic loans. The bank’s total business and advances have shown significant growth, reflecting its strong financial performance. Although the CASA ratio has slightly decreased, it remains an important indicator of the bank’s financial health and profitability. The bank’s performance is a positive indicator for investors and stakeholders, and it may bode well for the bank’s future prospects.
Indian Bank Names Venkatachalam Anand as Chief Officer for Vigilance
Shri Venkatachalam Anand has been appointed as the new Chief Vigilance Officer (CVO) of Indian Bank, effective April 1, 2025. Anand, who previously held the position of CVO at UCO Bank, will take over from Shri Vishesh Kumar Srivastava, who is being transferred to Bank of Baroda. Srivastava’s tenure as Indian Bank’s CVO came to an end on April 1, 2025.
Shri Venkatachalam Anand has over three decades of experience in the banking sector. He joined Bank of India (BOI) in 2000 as a Senior Manager (Law) and has since worked in various roles, including as Assistant General Manager and Zonal Manager. His expertise lies in law, recovery, and asset management, as well as retail business.
As CVO, Shri Anand will be responsible for ensuring the integrity and transparency of Indian Bank’s operations. His appointment comes at a time when the bank is undergoing significant changes, including a shift towards digital banking and increased focus on customer service.
Shri Anand’s tenure at UCO Bank has been marked by significant achievements, including improving the bank’s recovery rates and enhancing its risk management strategy. His experience and expertise will undoubtedly be valuable in his new role as CVO of Indian Bank.
Nearly three decades after the crime, a former UCO Bank employee was sentenced to three years’ rigorous imprisonment for defrauding his employer out of Rs 25 lakh in Patna.
A former special assistant at UCO Bank, A K Biswas, has been sentenced to three years of rigorous imprisonment and a fine of Rs 6 lakh for defrauding his employer of over Rs 25 lakh in the late 1980s. The crime was committed between 1986 and 1989, and the Central Bureau of Investigation (CBI) registered a case against Biswas on January 20, 1992. According to the FIR, Biswas opened a fictitious bank account, inflated the credit balance, and withdrew the money fraudulently. He cheated the bank of Rs 25,70,073 by using forged and fabricated debit vouchers and fake credit entries in the ledger sheet.
The CBI investigated the case and filed a single chargesheet against Biswas, who was found guilty by the court and sentenced accordingly. Biswas worked at the bank’s Frazer Road branch in Patna from 1983-91 and was a special assistant during that time. The court also held Biswas guilty of inflating the credit balance and withdrawing money based on cheques/withdrawal slips written in his own handwriting.
It is noteworthy that Biswas was not caught or punished immediately after the crime, and it took over 33 years for the case to be resolved. The CBI spokesperson stated that initially, three cases were registered in the matter, which were later amalgamated, and the trial took place over a period of 15 years. The sentence was pronounced on the 28th year of the case. The sentence is a reminder that crime does not go unpunished, even if it takes time, and that justice will eventually be served.
UCO Bank hosts a vibrant MSME, Agriculture, and Resource Festival in Surat, showcasing its commitment to local economic growth and development.
UCO Bank’s Zonal Office in Surat organized a MSME, Agriculture, and Resource Carnival on March 11, 2025, aimed at promoting awareness about financial schemes and resources available for businesses and farmers. The event was attended by several dignitaries, including UCO Bank’s General Manager Ashutosh Sundaram, SIDBI Assistant General Manager Dilip Kumar Sahu, Surat Chamber of Commerce’s Agriculture Committee Chairman K.B. Pipaliya, and UCO Bank’s Zonal Head Neeraj Daporkar. Several esteemed customers from MSME and agricultural loan customers from various branches in Surat and Vadodara also participated in the event.
During the event, General Manager Ashutosh Sundaram elaborated on the various MSME and agricultural schemes offered by the bank, highlighting how these initiatives can support businesses and farmers in expanding their operations. The event also saw the distribution of sanction letters for MSME and agricultural loans to eligible customers. The primary objective of the carnival was to educate customers about the bank’s schemes and encourage them to leverage available financial resources effectively.
The event received an enthusiastic response from attendees, who appreciated the bank’s initiative, recognizing it as a significant step towards strengthening the MSME and agricultural sectors. Many attendees expressed their gratitude for the informative session, emphasizing its role in facilitating economic growth and financial inclusion in the region. Overall, the event marked a successful initiative by UCO Bank to promote entrepreneurship and agricultural development in the region.
Unlock the Key to Affordable Home Ownership: Say goodbye to high interest rates! Compare the best home loan deals of 2025 and start building your dream home now!
Are you dreaming of owning your own home, but high loan rates are giving you sleepless nights? Worry no more! Many banks are currently offering home loans at very affordable interest rates and EMIs (Equated Monthly Installments). In this article, we’ll help you discover which bank is offering the cheapest home loan option.
Rising interest rates and expensive loans can make home ownership a daunting task. However, several government banks, including Bank of Maharashtra, Central Bank of India, and Punjab National Bank, are offering home loans at attractive interest rates, starting from 8.10% to 10.65%. This can significantly reduce your EMI and make owning a home a more achievable goal.
Here’s a breakdown of the best home loan rates offered by various banks, with rates starting from 8.10%:
* Bank of Maharashtra: 8.10% to 10.65%
* Central Bank of India: 8.10% to 9.95%
* Punjab National Bank: 8.15% to 9.85%
* Indian Overseas Bank: 8.15% to 9.85%
* State Bank of India: 8.50% to 9.75%
* UCO Bank: 8.35% to 10.55%
* IDBI Bank: 8.40% to 12.25%
* Nainital Bank: 8.40% to 11.20%
When choosing a loan, consider factors beyond the interest rate, such as processing fees, loan transfer charges, and bank terms. Some banks, like Canara Bank and Punjab & Sind Bank, are waiving processing fees, which can further reduce your loan costs.
Don’t miss out on this opportunity to own your dream home. Review the list above to find the best home loan option for your needs and budget. Remember to also consider the bank’s terms and conditions before finalizing your decision. Happy home buying!